Govt. introduced FAME II Scheme

Posted on:07 May 2019 16:58:31
Govt. introduced FAME II Scheme
07 May 2019 Current Affairs: The government introduced the FAME II scheme to boost the adoption of electric and hybrid vehicles. The scheme estimates that India can country save 64% of anticipated road-based mobility related energy demand and 37% of carbon emissions in 2030 by pursuing a shared, electric, and connected mobility future. 
This reduction in energy demand would result in the reduction of 156 million tonnes of oil equivalent (Mtoe) in diesel and petrol consumption for that year and net saving of approximately $60 billion in 2030 at present oil prices. Further, this would give impetus to India's vision of reducing oil imports by 10% by 2022. 
The transport sector in India continues to be the highest oil consuming sector and the use of diesel and petrol grew at 5.9% and 9.9% respectively in the last 10 years. India's import dependency on oil has increased from 78.3% of total consumption in 2014-15 to settling at a new high of 83.7% in the 10-month period of FY19.
The government introduced the FAME II scheme to boost the adoption of electric and hybrid vehicles. The scheme estimates that India can country save 64% of anticipated road-based mobility related energy demand and 37% of carbon emissions in 2030 by pursuing a shared, electric, and connected mobility future. 
This reduction in energy demand would result in the reduction of 156 million tonnes of oil equivalent (Mtoe) in diesel and petrol consumption for that year and net saving of approximately $60 billion in 2030 at present oil prices. Further, this would give impetus to India's vision of reducing oil imports by 10% by 2022. 
The transport sector in India continues to be the highest oil consuming sector and the use of diesel and petrol grew at 5.9% and 9.9% respectively in the last 10 years. India's import dependency on oil has increased from 78.3% of total consumption in 2014-15 to settling at a new high of 83.7% in the 10-month period of FY19.

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